New Fortress Energy (NFE Quick QuoteNFE - Free Report) shares ended the last trading session 27.4% higher at $54.11. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 20.9% loss over the past four weeks.

New Fortress Energy’s fourth quarter earnings per share were better than expected. The company continues to reap benefit of strategic acquisition and recently acquired few more companies to further expand its operation.

The company’s decision to make investment on an innovative "Fast LNG" 1.4 million tonnes per annum capacity modular liquefaction facility will allow it to access stranded, low-cost natural gas at a fixed price to meet the global demand for more affordable, reliable and cleaner energy.

Price and Consensus

This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of +96.7%. Revenues are expected to be $169.67 million, up 143.3% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For New Fortress Energy, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NFE going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>